How does a HIP Super Pension work?
A HIP Super Pension allows you to receive your superannuation benefits as an income stream, as opposed to one lump sum payment.
HIP Super Pensions are highly flexible. You can select the frequency of your pension payments as well as the size of the pension payments you wish to receive, however there is a set minimum amount.
You can commute (end your pension and take the remaining
assets as a lump sum) or take a portion of your account balance underlying the pension as a lump sum (partial commutation), at any time.
If you have taken out a pension under the Transition to Retirement rules, you will be unable to commute the pension until you retire. An annual maximum pension payment amount will also apply.
Upon your death, a Superannuation Pension can revert to a dependant, or be paid to a non dependant as a lump sum.
The assets supporting your pension can be invested in your chosen investment option. Investment returns will be applied to your pension via the crediting rate. Manangement fees apply, please refer to the Product Disclosure Statement.
The minimum deposit in a HIP Super Pension is $25,000 and you can choose one or a combination of three investment options.
This website is provided by Private Hospitals Superannuation Pty Ltd ABN 59 006 792 749, AFSL 247063, RSE L0001533, Trustee of Health Industry Plan (SPIN HIP0100AU, RSE R1056617), and is general information only. It does not take into account your objectives, financial situation or specific needs so you should look at your own financial position and requirements before making a decision. Please note that investments can go up and down. Past performance is not a reliable indicator of future performance. You should assess your own financial situation and needs, read the relevant Product Disclosure Statement and consult an adviser if required before making a decision about products on this website.